OCEANPORT, N.J. (AP) -- Software maker CommVault Systems Inc. reported Wednesday that its fiscal third-quarter profit dipped on higher costs but beat expectations with help from stronger sales in the U.S. and overseas.
The company, based in Oceanport, N.J., earned $7.2 million, or 15 cents per share, for the quarter that ended Dec. 31. That's down slightly from $7.3 million, or 16 cents per share, earned in the same quarter a year earlier. After adjusting for one-time items, CommVault earned 27 cents per share versus 22 cents per share in the prior quarter.
That beat the 25 cents per share that analysts polled by FactSet had forecast.
CommVault said its revenue rose 24 percent to $103.6 million on both stronger software and services sales, beating the $100.6 million that analysts forecast.
The company, which sells data management software, spent more on research, development, sales and other services to support the growing company.
Shares of CommVault rose $3.47, or more than 7 percent, to $50.47 in afternoon trading on the news.
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